Are You Taking This Incredible Opportunity to Live Rich?

“If I borrow from my investment account to create a new income stream, then would I have to pay that money back?”  This was a question asked after I spoke at women’s small business conference recently about creating new income streams to grow wealth. It beautifully summarizes the way many people compartmentalize the elements of money.

Of course you want safe money tucked away to grow. That nest egg is what allows us to sleep at night and live with peace. But, let’s shift our minds to asking what’s possible.

What if you “borrowed” $ 3,000 from your investment account and did something that created a new income stream of $ 20,000 for the following years? It would be pretty easy to “pay back” your investment account…and put more money into it every year.

One of the principles at Financial Woman is that your money and income are part of your overall rich life plan. In other words, traditional investments aren’t separate from investments in nontraditional ways, such as real estate properties or capital in your own business. Your investment accounts and your income are all part of a very large pie with elements that increase or decrease wealth. If a woman doesn’t take this holistic view, then there’s a chance that she’s missing out on opportunities to create wealth.

Let’s look at a few facts:

• Income is created using a small amount of capital from many savvy women with consulting and or internet based companies. The ease with which this can be done right now is a rare opportunity in time.
• Bonds yields are at and have been at or near historical lows for years. They hold substantial risk due to the anticipation of interest rates rising at some point.
• Long term stock market returns of 10% (which we haven’t seen in over a decade) take a long time to reward investors with significant wealth accumulation.
• Increased cash flow from greater income allows individuals to invest and grow more money.
• Taxes are the largest expense for many individuals, and are set to increase in 2013. Lowering taxes increases overall wealth.
• Real estate rentals and small business ownership each offer potential tax benefits.

Investments in real estate rentals can provide income, but they require a pretty significant amount of capital…and risk. Investments in you, however, for income from small business creation can be negligible, while actually having more upside with very little risk.

When I use the term “small business”, I’m not referring to a brick and mortar storefront or a Russell 2000 company, but just easing into a little consulting or similar practice using your expertise in any area, or scaling your existing small business that already has clients.

Are you asking what’s possible to get the rich life you really want? Is it happening from your traditional investments? Would bringing in another income stream expedite your money journey?

The answer is always yes! Then ask yourself  “What’s the very first step to increase income?” and schedule that step now.

Want some help? Grab 7 Savvy Steps to Increase Income FAST free ebook here; it’s packed with valuable and money smart ways to increase income.